FinMin shares SL’s experience at UN ECOSOC forum in New York

Finance Minister Mangala Samaraweera with UNICEF Executive Director Henrietta H. Fore

Finance Minister Mangala Samaraweera shared Sri Lanka’s experience in inclusive growth, at the Ministerial Financial Dialogue at the UN Economic and Social Council (ECOSOC) Financing for Development (FfD) Forum, in New York.

Samaraweera is representing Sri Lanka at the UN ECOSOC Forum on FfD convened by ECOSOC President Inga Rhonda King, at the latter’s invitation. 

Participating in the Ministerial Financial Dialogue panel discussion on ‘Promoting Inclusive Growth Reducing Inequalities’ on April 15, Samaraweera shared with the FfD the measures taken in Sri Lanka towards this end, including the details of the ‘Enterprise Sri Lanka’ concessionary loan scheme, which was launched in mid-2018, with the objective of creating 100,000 young entrepreneurs especially in the villages. 

The 2019 FfD Forum, as the centre-piece of the FfD follow-up process, has a dual task to review the implementation of the Addis Ababa Action Agenda in the past four years and forge a consensus among increasingly divergent views and spread policy know-how to advance implementation against the rising economic and non-economic risks.

It is expected to build momentum toward the first quadrennial high-level dialogue on financing for development, which is to take place in September 2019, back-to-back with the High Level Political Forum on Sustainable Development. 

Addressing the General Debate of the FfD on April 16, Samaraweera explained some of the measures taken by Sri Lanka, including in the 2019 budget, to address the identified challenges in sustainable and equitable development. 

Stating that financial commitments are increasingly challenging for countries like Sri Lanka that are subject to significant fiscal constraints, Samaraweera emphasised the need for international cooperation, including for supporting measures to prevent and mitigate the debilitating impacts of climate change in vulnerable economies. 
Samaraweera urged for greater public-private partnerships and multi-stakeholder initiatives globally, to ensure the successful achievement of the Sustainable Development Goals, so that no one is left behind. 

Samaraweera also met UNICEF Executive Director Henrietta H. Fore and discussed the matters related to financing for early childhood development. 
At the invitation of the UN Peacebuilding Support Office, yesterday Samaraweera participated in an interactive dialogue with the representatives of the UN Peacebuilding Commission.

He was joined by Coordinating Reconciliation Mechanisms Secretariat Secretary General Mano Tittawella, Office on Missing Persons Chairperson Saliya Pieris and Office for Reparations Chairperson Dhara Wijayatilake.